Tax Amount Maintenance

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Tax Amount Maintenance

Set up a tax screen for each tax agent.

 

tax account maintenance

 

The idea is to add/update all the tax statements you get in each year and then be able to run a list of the ones you are expecting the following year and be able to check them off the list when you receive them. The ones that aren’t checked off, are the ones that someone would start inquires about.

 

 

Deed – Taxes

Taxing Agent

Enter the tax agent (vendor) to whom taxes will be paid

Amount Due

Enter the annual amount due.

Tax Authority

Enter the account (i.e. property) number.  This is your property # at the taxing authority, not a Pak Accounting property #.

Send to G/L

Yes, will post the entry to the A/P in General Ledger as an open item upon selecting update.

No – will not post to the G/L

Deed #

Associated deed #, must be defined.

Well #

Optional.  Fill if you want the entry to record by well #, otherwise it will record by deed #.

Type

Type of tax paying.  Tax types are defined in a Sub-Table

Due Date

Due date to put on the A/P invoice.

Note

Additional notes for informational purposes

Roll Over

To save time, select roll over to bring forward prior year posted line items.  Make any changes to the amount due (before or after the rollover), and the due date will roll forward one year.

Update

Updates to the G/L any marked as Yes for Send to G/L.  Posts to the G/L as an open item A/P.  After updated, screen will change to Posted.